Seif:

Tehran, Moscow to use national currencies in mutual settlements

News ID: 3940932 -
TEHRAN, Mar. 29 (MNA) – CBI Governor Valiollah Seif said the project to use national currencies in trade transaction between Iran and Russia was in final stages.

Governor of Central Bank of Iran, upon returning from Moscow, said talks were held with the Central Bank of Russia over linking Mir payment system of Russia and Iran’s Shetab (Interbank Information Transfer Network) so that tourists can easily use ATM devises while visiting the other side.

“Talk are in final stages and the agreement will be prepared and inked within a week while the connection will take place in one month’s time marking a positive achievement in facilitating tourism between Iran and Russia,” he added.

The official also highlighted that two major banks of Russia were pursuing replacement of dollar with national currencies so that traders will settle transactions in rial and ruble.

“Gazprombank of Russia and Iran’s Bank Melli have agreed to open a joint account for using national currencies which will boost trade turnover and increase volume of imports and exports.

Seif said another topic discussed with the Russian side was the need to hold a summit of Iranian and Russian bankers in order to develop better understandings of each other and bolster ties.

He voiced optimism towards Russian banks who are gradually opening accounts for Iranian counterparts; “a portion of international settlements which were previously conducted in Persian Gulf littoral states will be shifted to Russian banks who enjoy a wide network and can facilitate international payments.”

CBI governor said Russian banks were eager to open bureaus, branches or joint banks in Iran as relevant talks are underway and will hopefully yiled fruitful results.

Recalling that the Leader has named the present year as 'Year of Economy of Resistance: Production and Employment', said the Central Bank of Iran has put certain plans on the agenda in order to realize the motto.

“Banking resources need to be directed towards effective projects which create jobs and lead to economic growth,” he underlined.

The official said banking resources need to be exploited in such a way that the country’s vast potentials are demonstrated and unlocked.

“All members of the Cabinet need to pay due attention to efficient use if limited banking resources as a major issue in Resistance Economy.”

He said, in the context of Economy of Resistance, we should avoid waste and consumption of resources, like banking facilities, in low-profit projects.

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